{
  "docId": "019dd923-622b-71dc-a6da-e7b68bedf507",
  "docSlug": "42871e2cc2e7",
  "documentTitle": "Green Mountain Coffee Roasters (GMCR)",
  "authorId": "04_Greenlight_Capital",
  "authorName": "David Einhorn",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2011-10-17 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 70,
  "pageCount": 110,
  "prevPage": 69,
  "nextPage": 71,
  "slideType": "appendix_data",
  "function": "analyze_data",
  "density": "dense",
  "nDataPoints": 7,
  "notes": "The slide highlights an 'Unexplained CapEx' of $186M by comparing itemized investments against the company's total guidance.",
  "elementsJson": [
    "headline_text",
    "data_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6da-e7b68bedf507/70",
  "deckHref": "/decks/019dd923-622b-71dc-a6da-e7b68bedf507",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-e7b68bedf507.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-e7b68bedf507#slide-70",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Unexplained CapEx $186.0",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-fb96-7553-b1d1-905483091166",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "CapEx: $186.0",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-fb96-7553-b1d1-99b822e1aac0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "We've added $30 million to our estimate for fiscal '11 CapEx due to the acquisition of Van Houtte. — GMCR Q1 earnings call",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd952-fb96-7553-b1d1-94f953daaef4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.05,
        "y": 0.84
      },
      "kind": "source-note",
      "text": "1. Greenlight estimate based on incremental production requirements... 2. GMCR Q1 earnings call... 3. http://investor.gmcr.com/releasedetail.cfm?ReleaseID=594488.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "12328a0f-6282-4efe-88db-ae74e8903a2e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.55,
        "w": 0.62,
        "x": 0.19,
        "y": 0.2
      },
      "kind": "table",
      "text": "K-cup Processing Equipment: $95.0; Rack Systems: $4.0; Facilities Upgrade: $10.0; Factory Expansion: $12.5; Van Houtte Related CapEx: $30.0; Total: $151.5; Midpoint of Guidance: $337.5; Unexplained: $186.0",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "434f5264-e6f2-4fe6-80d9-3469197da2f8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.5,
        "x": 0.1,
        "y": 0.07
      },
      "kind": "title",
      "text": "Capital Expenditures in FY 2011",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1301d2f1-79ad-4145-8dd0-89004268f68f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Table data",
      "slug": "table-data",
      "agent": null,
      "layer": "slide",
      "matchId": "3dbe4235-1d0c-442e-8463-f7ede99273b9",
      "evidence": "Table/data: K-cup Processing Equipment: $95.0; Rack Systems: $4.0; Facilities Upgrade: $10.0; Factory Expansion: $12.5; Van Houtte Related CapEx: $30.0; Total: $151.5; Midpoint of Guidance: $337.5; Unexplained: $186.0",
      "confidence": 0.9
    }
  ],
  "frameworks": [],
  "arcBeats": [],
  "loops": [
    {
      "to": 110,
      "from": 15,
      "name": "The Reveal",
      "slug": "05-the-reveal",
      "bestFor": "Product launches, strategic pivots, unexpected findings",
      "matchId": "3d366bd3-0742-4ca7-a1dd-2e8ed1e5341f",
      "evidence": "The presentation builds up to a conclusion that contradicts the bull case",
      "position": 0,
      "objective": "Reveal the truth about GMCR's business",
      "structure": "Setup the Question -> Build Suspense -> The Big Reveal",
      "confidence": 0.8,
      "description": "Build mystery and anticipation, then deliver a surprising or powerful conclusion"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}